Weil leadership recommends orderly winddown to partners

Weil, Gotshal & Manges’ senior leadership has recommended that partners approve an orderly winddown of the law firm, following failed merger talks with Willkie Farr & Gallagher. The partnership vote was expected in the coming days, and the firm said it would continue serving clients during a process lasting months. The recommendation marks a turn from earlier discussions in which a winddown was one of several options, alongside a possible rescue deal. Weil’s statement said leadership made its recommendation after reviewing alternatives. The supplied reporting does not establish whether partners have voted or what they decided, so the firm’s final course remains undetermined. Weil hired Davis Polk & Wardwell advisers Neil Barr and Brian Resnick after the merger discussions fell through. Barr, Davis Polk’s managing partner, has advised on law firm mergers; Resnick is a partner in its restructuring practice. Davis Polk confirmed the advisers’ engagement. Their work is part of Weil’s review of its options, not confirmation that a final winddown has been approved. The firm has faced departures by senior partners, including lawyers in corporate, private equity and bankruptcy...